Vonya Global Releases Report on Fraud Prevention, Fraud Detection, and Fraud Deterrence Strategies

Nov. 5, 2009 - PRLog -- Vonya Global surveyed Executives and Internal Auditors from private, public, and not-for-profit organizations, spanning many industries to gather opinions on strategic planning for fraud prevention, fraud detection, and fraud deterrence. Historically, there have been several studies conducted about fraud and fraud statistics, but none that deal directly with the strategic plans to manage fraud risks. The timing of this study is appropriate due to the heightened sensitivity to fraud due to the economic conditions. It seems more groups, including regulatory bodies, investors, clients, and suppliers are increasingly concerned about the ability to demonstrate effective fraud prevention and fraud detection strategies.

The Final Report on the Strategic Plan for Fraud Prevention and Fraud Detection compares the survey responses based on company size and on role within the company. The reports shows that the opinions on Fraud Prevention and Fraud Detection Plans vary greatly depending on the size of the company. It was also found that Executives and Internal Auditors differ in opinions on the effectiveness of Strategic Plan for Fraud Prevention and Fraud Detection. The report includes quotes from the respondents, such as:

"Fraud will always exist at some level and in some form throughout any organization that employs people to fulfill its mission."

"Fraud is a direct result of not applying the business and audit basics - internal controls, coupled with regular audits to those controls. A contributing factor, when fraud is present, overwhelmingly is lack of 'tone at the top'".

"Companies should do more to deter and detect fraud. Costs go far beyond the simple dollars someone steals or gains through materially misstated financial statements. Loss to employees and stockholders can be substantial."

The results of this survey are intended to provide benchmarking information to companies interested in fraud prevention, fraud detection, and fraud deterrence strategies. The report can be downloaded by visiting this site: http://www.vonyaglobal.com/Strategic-Plan-for-Fraud-Preve.... Please follow this link for more information on fraud prevention or fraud detection http://www.vonyaglobal.com/fraud-audit.html.

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About Vonya Global:
Vonya Global is a consulting firm specialized in providing internal audit, internal control, and risk assurance services to a wide range of companies. Above all else, we are on a mission to prove there is a better way to serve clients. To do so, we have taken the professional services framework back to the basics by providing Consistent Quality, Responsive Service, and Knowledge Leadership. Having locations throughout the world, Vonya Global serves as a value added alternative to the large accounting firms. There is a better way, Vonya Global will show you.

Vonya Global LLC is headquartered at 150 N. Michigan Avenue, Suite 2935, Chicago, IL 60601 and has locations worldwide. For more information please visit the Vonya Global website.

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